Reviewing Individual Tax Returns

Course Details

Date

Friday, July 26, 2024

7:00am – 9:00am (Registration: 4:02pm)

Location

Online

Field of Study

Taxation

CPE Credit

2 hours CPE credit

Level of Knowledge

Intermediate

Vendor

AICPA

Prerequisites

Basic knowledge of individual income taxation

Description

The sheer mass of Internal Revenue Code provisions affecting individual taxpayers presents a considerable challenge for CPAs and tax professionals. These provisions combined with the potential for input error when utilizing the array of income tax software available, create the potential for a multitude of errors that can occur when preparing your client's tax return. Join us as we discuss the common mistakes practitioners make when preparing individual tax returns that are often missed by review staff. Refresh and hone your skills with interactive case studies that examine individual tax returns. Learn about issues that may warrant additional client information and about areas of tax law that require deeper analysis. This course follows a highly illustrative case study format to increase participant comprehension and retention.

Highlights

  • Passive-activity losses
  • Qualified business income deduction
  • Home office
  • Schedule C activity and hobby losses
  • Business startups and deductions
  • Alimony
  • Discharge of debt

    Objectives

    • Identify potential errors or omissions of information on tax returns.
    • Recognize planning opportunities for your clients based upon information reported on a tax return.
    • Determine the proper tax treatment for certain rental property activities.
    • Determine the proper tax treatment for various start-up costs by a new business.

    Designed For

  • CPAs working with clients requiring up-to-date expertise in individual income taxation for the current tax season

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